Cartesian Residential Mortgages 3 S.A: 25 July 2018

The Issuer will make payments on the notes from payments of principal and interest received from a portfolio comprising of mortgage receivables resulting from mortgage loans originated by one of the Originators (Venn Hypotheken B.V. & Quion 10 B.V.) and secured over residential properties located in the Netherlands. Legal title to the Mortgage Receivables has been or, in the case of New Mortgage Receivables, will be sold and assigned by the relevant Originators to the Seller between 17 March 2015 and the last day of the Prefunded Period.

At the cut-off date, the portfolio will consist of 831 fixed-rate loans (1,870 loan parts), where the average current balance per borrower is Eur334,323. All of the loans have been advanced to owner-occupiers. Redemption Type (by current balance): Annuity 64.57%, Interest-only 31.32%, Linear 3.85% and Bridge Loans 0.26%. The WA OLTOMV is 96.83%, the WA CLTOMV is 96.04% and the WA seasoning is 0.39 years. Regional concentration: Noord-Brabant 18.38%, Noord-Holland 17.44%, South-Holland 17.03%, Utrecht 13.88% and Gelderland 11.70%.

CRR/405: Ember VRM S.à r.l., in its capacity as Seller, has undertaken that, for as long as the Notes are outstanding, it shall retain, on an ongoing basis, a material net economic interest in the securitisation transaction which shall in any event not be less than 5% in accordance with Article 405 of the CRR and Article 51 of the AIFMR.

The Seller does not intend to retain at least 5% of the credit risk of the securitised assets for purposes of compliance with the U.S. Risk Retention Rules, but rather intends to rely on an exemption provided for in Section 20 of the U.S. Risk Retention Rules regarding non-U.S. transactions.